COVID-19
Day two of the CFA Institute Financial Regulatory Symposium 2021 featured an in-depth discussion on these themes, and the measures that regulators can put in place to encourage ethical behavior.
Register now for CFA Institute Global Financial Regulatory Symposium June 29, 30.
Our research reviewed how such a transformational interpretation of the role of central banks and their independence in conducting monetary policy could have unintended consequences for financial markets and the economy. CFA Institute also wanted to draw the attention of policy makers to the socioeconomic aspects of this crisis.
CFA Institute Systemic Risk Council members discuss the challenges facing the EU as it responds collectively to the crisis created by Covid-19.
Based on a global survey conducted in April, the report details CFA® charterholders’ observations on a wide range of issues. This article focuses on five key themes: market liquidity, asset price formation, government intervention, impact on the financial services industry, and risk of misconduct.
A plethora of non-GAAP and alternative performance measures will arise throughout 2020 to explain the effects of the COVID-19 pandemic. Investors need to critically evaluate the nature of the adjustments, what the resulting measure is meant to communicate, why the new or revised measure is being presented by management, and why the measure is a better or more meaningful measure. This information should be used as a jumping-off point for a conversation with management.
Government must show courage and planning now to ensure that the stimulus lands where it is needed, that accountability is guaranteed, and that our experiment with whatever-it-takes intervention into free markets ends.
Since CFA Institute has been focusing particularly on the impact of the MiFID II rules for the past two and half years (the directive entered into force on 3 January 2018), we will be looking only at the tweaks to this regulatory framework.
We encourage investors to “look under the hood” at the results — not for their predictive ability this quarter per se but rather for the ability of a company’s forward-looking statements to be evaluated and to make their own assessments of future prospects. Until there is a vaccine, company results and outlook will likely be filled with uncertainty, and these interim results can provide insight into the impact of the pandemic and how the business may respond in the future as the pandemic ebbs and flows over the next few years.
Due to the impact of COVID-19 on how companies are reporting during the second quarter/half year, investors likely need to perform their own going concern analysis.